German consumer morale demonstrates the strongest reading since 2001

12:46 25.01.2018

German consumer morale edged up heading into February to its highest value since 2001, underpinned by customers’ perceptions of a boom in the EU’s number one economy, a poll published on Thursday disclosed.

Household spending has turned to be a key source of economic expansion in this European country as customers derive benefits from record-high employment, strengthening job security, soaring wages as well as low borrowing costs.

As the Nuremberg-based GfK institute informed, its consumer sentiment indicator, built around a poll of 2,000 Germans, tacked on to 11.0 points going into February versus the previous month’s outcome of 10.8. As for the Reuters consensus estimate, respondents had hoped for a reading of 10.8.

German customers are actually making a very optimistic start to this year, as some financial experts told.

Customer’s readiness to purchase rallied from 57.1 to 60.4.

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